Raw Video: Barney Frank Announces Retirement

11/29/2011 10:33AM

Rep. Barney Frank has announced he will not seek re-election in 2012. Frank has served 16 consecutive terms in the House, and is known for championing financial regulation. (Video: Fox News / Photo: Getty Images)

This transcript has been automatically generated and may not be 100% accurate.

I ... one easy ... way ... to ... a very conservative Republican majority to both the house ... at that point she knew me it's on the things I did for minus four to be Jeopardy ... it's a tangible form ... which I anticipated the ... conservative Republicans who are running out to try to undermine ... and additionally ... I was afraid that given the need to do deficit reduction ... the very conservative majority ... would seek to block any increase in taxation ... on the wealthiest people ... and would seek to protect the military or from any spending cuts ... so that the necessary depth the reduction would fall disproportionately on top Security Medicare ... and other programs that enhance the quality of our lives here at home ... I thought that if I were to announced in December that I would remain doubt that that would ... weaken my ... chances of having and switch ... first ... um I decide to run again because I won a maximum and pointed to a huge protecting financial reform ... and make sure that military spending which part of the mix of deficit reduction ... of ... we need to campaign ... in a district that is the almost have to know ... conflicts with that ... I've Baidu ward of on again I would be engaged full-fledged in a campaign which is entirely appropriate ... nobody auto expect to ... get elected without may be a contest ... was the fact that it is still no ... make it harder in charge of ... moaning about nowhere is introducing myself to people ... and I have three obligations one is to continue to serve the people like our reserve on wearing ... a IIa ... new Bedford whaling Museum time ... I've spent twenty is one of the fishing industry ... none of the fishing industry areas will be in the district ... that the ... I would be running and ... I can walk or deficient in California people I've grown partly close to ... that it was tight ... I got I gotta go Warren of the Blackstone Valley an odd time to do you know the Rangers I worked on ... that would either become ... a twenty year-old mentor ... of Dimanche shoulders ... I don't wanna be ... torn between ... a full-fledged campaign in a district with around twenty five thousand new people ... and my obligation to the existing get into it ... and that's reinforced by the fact that I would have a hard time going to three and twenty five thousand new people ... some of them in Arizona I've ... not personally was like the Blackstone Valley ... its AEO By wife ... I would like to be Alcon different to two years ... the budget would always clear that I would be retiring ... at the next term ... I will be ... a problem when short my seventy fifth birthday and to the conclusion next Congress ... and I have always ... said I would not be ... serving elected office at that age some people ... to deal with ... I know my own capacities